That Elon Musk likes a joke and has a fascination with the crypto world we all know, but his jokes now seem to be becoming truth. The American space company SpaceX, owned by Elon Musk, will launch a satellite to the moon next year called DOGE-1, which, by the way, will be fully funded with Dogecoin. This was announced on Sunday by the Canadian logistics company Geometric Energy Corporation, which will lead the moon mission.
In Geometric Energy Corporation's announcement, the company said its commercial satellite could travel to the moon as early as the first quarter of 2022 aboard the SpaceX Falcon 9 launcher. Weighing 40 kilograms, the satellite is designed to "acquire lunar spatial information from onboard sensors and cameras with integrated communications and computer systems."
"Having officially done business with DOGE
for a deal of this magnitude, Geometric Energy Corporation and SpaceX have strengthened DOGE as a payment entity for lunar space operations," said Samuel Reid, CEO of Geometric Energy.
Tom Ochinero, VP of Commercial Sales for SpaceX, added:
"This mission will demonstrate the application of cryptocurrency beyond orbit and lay the groundwork for interplanetary commerce."
Neither SpaceX nor Geometric Energy specified how Dogecoin (DOGE) was used to fund the venture. The cost could be partly related to the development of the satellite or include funding to launch it to the moon. Thus, it is also not known exactly how much DOGE the project is going to cost.
The announcement comes the day after Elon Musk hosted the live comedy show Saturday Night Live (SNL), in which he praised Dogecoin.
A big supporter of cryptocurrencies
, the Tesla boss described Dogecoin in an SNL skit as "an unstoppable vehicle that is going to take over the world. He said he thought the coin would "take over the world" and called himself ' the Dogefather.
However, he also said in the skit that cryptocurrency is similar to hustling. That means it is a shady way to make money. The coin dropped 25 percent in value as a result of the performance, a drop that began as early as during the broadcast that was streamed on YouTube.
Dogecoin to the moon
Dogecoin began in 2013 as a joke based on a meme, a term for certain jokes on the Internet. The cryptocurrency, so far without any practical application, rose some 25,000 percent in value in six months.
SpaceX founder Elon Musk has repeatedly hinted - perhaps jokingly - on Twitter that Dogecoin will be the first cryptocurrency to "literally" reach the moon. Musk's social media activity has likely been responsible for some of the price increases for the token, which has received massive attention over the past month, making it the 4th largest cryptocurrency by market capitalization at the time of writing with a price of $0.51